Raymond James Financial Inc. acquired a new stake in GeneDx Holdings Corp. (NASDAQ:WGS – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 265,045 shares of the company’s stock, valued at approximately $20,371,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC increased its stake in GeneDx by 107.7% in the 4th quarter. MCF Advisors LLC now owns 351 shares of the company’s stock valued at $27,000 after buying an additional 182 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in GeneDx in the 4th quarter valued at about $28,000. Evolution Wealth Advisors LLC purchased a new stake in GeneDx in the 4th quarter valued at about $202,000. Victory Capital Management Inc. purchased a new stake in GeneDx in the 4th quarter valued at about $209,000. Finally, Point72 DIFC Ltd purchased a new stake in GeneDx in the 3rd quarter valued at about $220,000. Hedge funds and other institutional investors own 61.72% of the company’s stock.
GeneDx Stock Up 10.2 %
GeneDx stock opened at $98.47 on Monday. GeneDx Holdings Corp. has a 1-year low of $7.72 and a 1-year high of $115.60. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -50.24 and a beta of 1.91. The company has a current ratio of 2.40, a quick ratio of 2.27 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $84.60 and a 200 day simple moving average of $69.93.
Analyst Ratings Changes
WGS has been the subject of several analyst reports. The Goldman Sachs Group increased their price objective on shares of GeneDx from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen increased their target price on shares of GeneDx from $75.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.33.
Get Our Latest Stock Analysis on GeneDx
Insider Activity
In other news, CEO Katherine Stueland sold 2,731 shares of GeneDx stock in a transaction on Monday, March 10th. The shares were sold at an average price of $94.73, for a total transaction of $258,707.63. Following the completion of the sale, the chief executive officer now directly owns 7,752 shares of the company’s stock, valued at approximately $734,346.96. The trade was a 26.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kevin Feeley sold 922 shares of GeneDx stock in a transaction on Monday, March 10th. The stock was sold at an average price of $94.72, for a total transaction of $87,331.84. Following the sale, the chief financial officer now directly owns 5,446 shares of the company’s stock, valued at $515,845.12. This represents a 14.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,947 shares of company stock worth $10,203,444 in the last three months. Corporate insiders own 27.30% of the company’s stock.
GeneDx Profile
GeneDx Holdings Corp., through its subsidiaries, provides genomics-related diagnostic and information services. The company offers Centrellis, an AI-driven health intelligence platform that integrates digital tools and artificial intelligence allowing scientists to ingest and synthesize clinical and genomic data to deliver comprehensive health insights.
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